When you think big tech, you think of Facebook, Google, Amazon, and Apple. Everyone uses at least one of these companies for goods, services, to get information, or to connect to the world; however, how did we get to this point? How did tech, especially these tech companies, get to a point where everyone uses their services with minimal competition? If you are familiar with American history, you would ask yourself, didn't we go through this before? Aren't there already anti-trust laws? Didn't we learn about this from the Sherman Act, The Clayton Act, and the FTC act? What happened? Honestly, I can only suspect what has happened.
Big tech equals big money, and if you have a lot of money, you can buy - I mean lobby so that politicians can serve big tech interests.
Secondly, tech moves faster than the law. There are more device updates, software updates, and encryptions weekly than our great country can catch up with due to our current legislative process. Honestly, by the time a bill is written, big tech will have found a loophole before the legislature can approve it. Think about it, how many iOS updates have you had since there have been discussions about busting up big tech in congress in the 2000s. I assure you there will probably be at least ten more before any changes can be seen. The law that currently regulates social media was passed in 1996. As a millennial, Facebook has changed so much since I joined in 2005. Do you think a law from the 1990s captures all the possible issues with big tech? Probably not. Also, in the past year, the word has had bigger problems than tech (one can argue in the past 4 ).
Lastly, Big tech is life. We are hooked, and it is too late. I am part of the issue as well. I woke up today, checked my social media, the proceeded to complete my virtual homework. I used apps to communicate with my family worldwide and bought tickets online for my next vacation. How many times have you heard or engaged in tech arguments? I have had several arguments over Android vs. Apple. Facebook over Instagram and amazon versus Ali express. Tech is a substance, and we are so dependent on it. Big tech has had free reign over our lives to regulate us until…..
Currently, six bills have been written to break up the trust. Currently, big tech has gotten so big that tech companies can arrange what you see so that their goods, products, and services are given preferential access by consumers, thereby monopolizing their respective markets.
The bills, if passed into law, will regulate this. So far, as American Choice and Innovation Online Act was voted approved 24-20. Two bills were already approved, and the last bill is pending. Big tech is in big trouble because should this specific bill be passed through the house and becomes signed into law, apple as we know it will not exist. There will be no need to own an Apple device to have access to apps exclusively for apple customers.
Conversely, You don't have to buy the apple app on your phone. I'll be watching to see what happens because this is quite interesting. What would our world look like if this happens? Excuse my inner cynic but, I fear it is too late to regulate tech. Consumers are already hooked. Consumers may just go with what they know. Big Tech is the equivalent of a child with no rules, regulations, or ever being told no that is now a very rich and powerful adult. Tech will just come up with some loophole to continue to function the way they have. I do not think the law will catch up to tech because tech is ever-evolving, but that's just me. What do you think?
Learn more
https://www.cnbc.com/2021/06/22/tech-industry-urges-congress-to-slow-down-new-antitrust-bills.html
https://docs.house.gov/meetings/JU/JU00/20210623/112818/BILLS-117HR3816ih.pdf
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